Family courts can decide how the family home of a divorcing couple can be disposed of. Sure, the couple themselves can reach a solution on their own. Usually, the court will order the sale of the house and the distribution of any equity in it between the spouses. But if one spouse can buy out the interest of the other in the house and free the latter from liability for the home’s mortgage, the court may award the home the former.
Sometimes, a spouse can stay in the family home while the other spouse must pay for the house. In other cases, both spouses agree to a nesting arrangement, which means they still both own the house, and let the kids live in there while the parents come and go from the house depending on who gets primary custody of the children.
Deciding what happens to the family house is often hard. If you are in this situation, you need a divorce lawyer Birmingham, AL on your side to help you make the right decision or present your case to the course with your proposal on how to dispose of your family house.
How Property is Divided in a Birmingham Divorce
To divide property when a couple divorces, the property should be classified as marital or separate property first. Then, the couple must agree on the marital property value and divide the property.
Assets obtained during a marriage are often marital property. If a divorce goes to court, a judge will decide who gets what. But divorcing couples can decide how to divide their property if they intend to settle their case out of court. Meanwhile, a piece of property is considered separate, which means it belongs to a spouse privately, if it is owned before the marriage, obtained as a gift, or inherited. The owner of the property can keep it following the divorce.
A divorce attorney can negotiate with your spouse, so you can keep the property you want. If a judge has to make a decision, your lawyer can advocate for you, so you can get your desired property.
Allowing the court to make decisions about splitting your assets like the family house can be risky. This is because you won’t have control over who gets the house. A judge will consider the facts of every case to determine how to dispose of your marital house. They will consider factors such as the length of your marriage, the age and health of every spouse, your standard of living, and more.